FY2024 EPS Estimates for MAG Silver Reduced by Raymond James

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities research analysts at Raymond James dropped their FY2024 earnings per share (EPS) estimates for MAG Silver in a research note issued on Wednesday, November 13th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings of $0.75 per share for the year, down from their previous estimate of $0.77. The consensus estimate for MAG Silver’s current full-year earnings is $0.71 per share.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02.

A number of other equities research analysts have also recently issued reports on MAG. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. HC Wainwright increased their price target on shares of MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank boosted their price target on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MAG Silver currently has an average rating of “Hold” and a consensus price target of $18.38.

MAG Silver Trading Up 5.5 %

Shares of MAG stock opened at $15.72 on Monday. MAG Silver has a 1 year low of $8.19 and a 1 year high of $18.27. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 22.14 and a beta of 1.12.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new position in MAG Silver during the first quarter worth about $22,518,000. Allspring Global Investments Holdings LLC bought a new position in MAG Silver in the 2nd quarter valued at approximately $9,932,000. TD Asset Management Inc boosted its position in MAG Silver by 118.3% in the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock valued at $12,415,000 after buying an additional 576,156 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of MAG Silver by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after buying an additional 467,817 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of MAG Silver during the first quarter worth $3,925,000. 52.50% of the stock is owned by institutional investors.

MAG Silver Company Profile

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.